Chinese ferrovanadium prices down seriously
Date:May 16, 2018
BEIJING (Asian Metal) 16 May 18 – Chinese ferrovanadium market moves weakly as biddings from steel mills forced the prices down. Mainstream prices for ferrovanadium 50%min hold at RMB189,000-192,000/t (USD59.46-60.41/kg V) delivered D/A six months, down by RMB1,000/t (USD0.31/kg V) from last week. Market participants generally take a wait-and-see attitude towards the future market and anticipate that Chinese ferrovanadium prices would keep bearing pressure in the coming week.
A trader in North China said that their price for ferrovanadium 50%min supplied to steel mills stands at RMB190,000/t (USD59.78/kg V) delivered D/A six months now, which is higher than purchasing prices from ferrovanadium producers by RMB1,000/t (USD0.31/kg V). He said, “With few purchases of ferrovanadium from steel mills, prices for ferrovanadium 50%min almost stabilize at over RMB190,000/t (USD59.78/kg V). According to the historical trend, the current prices are at quite dangerously high level and hard to rise, which is also why many traders dare not to make purchases now.” The company last purchased 30t of ferrovanadium 50%min at RMB189,000/t (USD59.46/kg V) delivered D/A six months last Wednesday. He expected that Chinese ferrovanadium prices would keep stable weakly in the coming week.
